The Business Times
business-time-50

Link Hotel owners stave off forced sale with financing to repay S$51 million loan

google-preferred-sourceAdd BT as a preferred source
Jessie Lim

Jessie Lim

Published Thu, Jul 6, 2023 · 01:42 PM
    • The main lobby of Link Hotel Singapore. The boutique hotel in Tiong Bahru was put up for sale through an expression of interest exercise in April. 
    • The main lobby of Link Hotel Singapore. The boutique hotel in Tiong Bahru was put up for sale through an expression of interest exercise in April.  PHOTO: LINK HOTEL SINGAPORE

    LINK Hotel Singapore has been taken off the market after its owner, Hang Huo Investment, obtained a loan from Swettenham Capital to repay a S$51 million loan owed to DBS.

    The loan, obtained in June, will provide S$55 million to Hang Huo Investment at an interest rate of 11 per cent per annum. It is secured by a mortgage over the hotel.

    The sum will also go towards financing the working capital of Hang Huo Investment and repaying costs incurred in the loan process, parent company Link Holdings said in a Hong Kong Exchange filing on Jun 26. 

    HotelsDBS

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The exterior (left) and interior (right) views of Waterwall House, featuring glass interfaces, open voids, split levels and raw concrete walls.

    Rare brutalist Singapore house opens to the public before changing hands

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More